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A lot of things change when you get married, including your insurance options. Making sure your insurance is adequate once you are married is an important step to take. You have the option of buying new, combining, and/or discontinuing policies you will no longer need. Here are the insurance coverages we recommend you review or consider purchasing once married. Life Insurance After you say “I Do”, you might need to increase your life insurance coverage. The bills you would leave your spouse with include,Read More

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The TCJA (Tax Cuts and Jobs Act) passed in late 2017 affects your tax planning for 2018. We highlighted the changes that are most likely to pertain to our clients. The information is general in nature, and not a substitute for individual and customized tax advice from your tax preparer. 1) Some retirement plan contributions have increased. If you contribute to a TSP, 401k, or 403b, you may be eligible to increase your savings. The limit is now $18,500 versusRead More

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They are still the best tool in your toolbox for college planning, but there have been some changes. Here is a quick re-cap. What are 529 plans? They are investment vehicles that are named after the Internal Revenue Code that created them. They have helped many of our clients pay for college for their children as they offer tax advantages when used for qualified education expenses at eligible educational institutions. What tax advantages do they offer? When used appropriately, theRead More

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Are you interested in a financial plan but not sure if it is in your budget? Ask for a Financial Plan as a gift. Here is why, when, and how to get it. 4 Reasons Why 1. It is a great investment – The ROI (return on investment) for a financial plan can be huge. Setting up a plan for the future can be life-changing. 2. Even your stingy relatives would want to contribute to this gift for you –Read More

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With a copy of your balance sheet in front of you, go account by account to make sure the following three (3) safeguards are in place. As an example, we listed detailed instructions on how to implement each step once logged into the Vanguard website. For accounts at other custodians, contact them directly if you have trouble finding the settings. 1) 2-Step Verification This feature requires you to enter the correct username and password when logging in AND a codeRead More

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This checklist is geared towards people already working with an advisor, therefore items like portfolio rebalancing, taking RMD’s, and reviewing other essential planning pieces are intentionally excluded since those would be covered with your advisor during an Annual Review. Freeze your credit if you haven’t yet. We have been recommending this for months now, but in case you are procrastinating, here is how to do it. Check to confirm minor children DON’T have a credit report. Children should not haveRead More

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